eMudhra launches R&D centre for Blockchain based solutions

Bangalore based eMudhra, a certifying authority which issues digital signature certificates in India has launched an R&D centre for development of technology solutions and products based on the premise of Blockchain.Aritra Sarkhel | ETtech | October 09, 2017, 23:00 IST

Bangalore based eMudhra, a certifying authority which issues digital signature certificates in India has launched an R&D centre for development of technology solutions and products based on the premise of Blockchain.

The digital identity player has built this R&D centre in Bangalore and plans to introduce solutions to help different industry verticals in need of identity verification and authentication for financial transactions. There is a roadmap to hire about 100 people for the same.

In an email interaction with ET, V. Srinivasan, Chairman, eMudhra, says that they are working on a hybrid model to secure transactions with Blockchain and streamline ID verification while using Aadhaar or other forms of ID’s by storing ID verification records on a Blockchain thereby automatically creating a shared registry that can be leveraged by other relying parties. "By allowing eSign or digital signature based smart contract creation on Blockchain, it will result in verifiable identities and legal non-repudiation to the transaction. It will also help in storing smart contracts on digital locker running on a Blockchain."

Ins pite of Blockchain not being considered as a legal platform in India, Srinivasan points out that blockchain implementation is not limited to cryptocurrencies and is primarily for the distributed tamper-resistant transaction framework. "There will be some challenges in implementation to existing use cases, which our R&D centre is working on. But legal policy change may not be necessary for the implementation of the Blockchain."

The eMudhra team also plans to use Blockchain based platform to create solutions for smart cities in India. The digitization of records on the Blockchain ensures administrative efficiency and drives stronger capabilities for urban planning. "In a smart city, Blockchain can also be critical in getting better access to public information and bring about a more accountable way of citizens participating in governance."

The company also recently announced the launch of Aadhaar eSign-based ‘National Automated Clearing House’ (NACH) gateway to help large and small enterprises collect recurring payments from customers.